- Jun 29, 2017
James Bond has a new home: Amazon and MGM announced a definitive merger agreement under which Amazon will acquire MGM for $8.45 billion. MGM, founded in 1924, complements Amazon Studios, which has …
James Bond has a new home.
Amazon and MGM officially announced that they have entered into a definitive merger agreement under which Amazon will acquire MGM for a purchase price of $8.45 billion.
MGM has nearly a century of filmmaking history and complements the work of Amazon Studios, which has primarily focused on producing TV show programming, the companies said. Amazon will help “preserve MGM’s heritage and catalog of films,” and provide customers with greater access to these existing works, the companies said. Through this acquisition, Amazon would empower MGM to continue to do what they do best: great storytelling.
Metro-Goldwyn-Mayer is the studio behind the Pink Panther, Rocky, and, yes, the 007 franchise. The pact comes on the heels of AT&T’s decision to spinoff WarnerMedia and combine it with Discovery, a deal that many entertainment analysts predict will spark a new round of mergers and acquisitions as media companies and streaming players scramble to lock up the most compelling content available.